Post by Australian Prudential Regulation Authority

📌 APRA has called for a step-change in how banks, insurers and superannuation trustees manage AI-related risks as the technology continues to rapidly evolve. 📄In a letter published today, APRA warns that governance, risk management, assurance and operational resilience practices are not keeping pace with the scale, speed, and complexity of AI adoption. Noting that frontier AI models are expected to enhance the discovery of cyber vulnerabilities by bad actors, APRA says it expects to see a significant improvement in how entities are closing the gaps between the power of the technology they are using and their ability to monitor and control it. 🔗Read the letter and media release at: https://lnkd.in/dUcmeBmn #ArtificialIntelligence #AIGovernance #AIRisk #CyberSecurity #OperationalResilience #FinancialServices